Asian Equities Rebound After Opening Drop

Last Updated: Friday, December 2, 2022 10:55 AM | MT Newswires

After opening the day's trading session sharply lower, American depositary receipts of Asian stocks rebounded quickly Friday morning and are down only 0.024% at 1,515.64 on the S&P Asia 50 ADR Index on Friday.

In North Asia, the gainers were led by content aggregator Qutoutiao (QTT) and video-sharing site Bilibili (BILI), which climbed 19% and 15% respectively. They were followed by online video platform iQIYI (IQ) and consumer-oriented technology company Qudian (QD), which rose 14% and 12% respectively.

The decliners in North Asia were led by fintech company Pintec Technology (PT) and educational services provider 51Talk Online Education (COE), which fell 11% and 7.1% respectively. They were followed by ecommerce fashion platform MOGU (MOGU), which lost 5.6%.

In South Asia, the gainers were led by digital entertainment firm Sea Limited (SE), which rose 1.2%, followed by IT firm Sify Technologies (SIFY) and biotech company ASLAN Pharmaceuticals (ASLN), which were up 1.1% and 0.8% respectively.

The decliners in South Asia were led by telecommunications operator PLDT (PHI) and IT firm Infosys (INFY), which fell 3.8% and 2.6% respectively. They were followed by automaker Tata Motors (TTM) and financial services company HDFC Bank (HDB), which lost 2.5% and 2.3% respectively.

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